Written by ForexBrokers.com
In this head to head comparison of Saxo vs FxPro, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing online brokers Saxo and FxPro, there are distinct differences in their founding histories, regulatory standings, and trust ratings, which are key considerations for potential investors. Saxo, established in 1992, has built a strong regulatory framework with 7 Tier-1 licenses, making it highly trusted. It is also a bank, further adding to its credibility, and boasts the highest possible Trust Score rating of 99 out of 99 from ForexBrokers.com. On the other hand, FxPro, founded in 2006, holds 2 Tier-1 licenses, which still classify it as a highly trusted broker. Although not a bank, FxPro maintains a commendable Trust Score of 90, establishing its reputation as a reliable choice in the market.
Neither Saxo nor FxPro is publicly traded, meaning they are not listed on any stock exchange, which might impact their transparency and accessibility to some investors. Both brokers hold 1 Tier-2 license, aligning them as trusted entities in the field. Choosing between Saxo and FxPro ultimately depends on the investor's preference for a bank-affiliated broker with a slightly higher regulatory standing or a reputable, high-trust broker that operates independently of banking sponsorship. Saxo’s extensive history and regulatory prowess may appeal to those seeking comprehensive protection, while FxPro offers a dependable alternative for those looking for a slightly younger firm with a solid trust foundation.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Year Founded | 1992 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Saxo Bank offers notably competitive pricing, especially for active traders and those who can maintain larger account balances. As of November 2023, Saxo's average spreads for the EUR/USD pair are 1.1, 1.0, and 0.9 pips for its Classic, Platinum, and VIP accounts, respectively. Notably, while the Classic account's pricing is slightly higher than the industry average, the Platinum and VIP accounts align more closely with industry norms. For forex trading, Saxo operates commission-free, earning through spreads, except for small-volume traders who face a $3 per side fee. Saxo garners a 5-star rating and holds the #9 position out of 62 brokers for commissions and fees, highlighting its efficiency.
FxPro's fee structure is less competitive when compared to leading brokers like Saxo. FxPro's floating rate spread on the EUR/USD pair is higher, with MT4 and MT5 spreads of 1.58 and 1.51 pips, respectively. The cTrader platform offers more competitive spreads at approximately 1.27 pips, accounting for an average spread and commission factor. While FxPro does provide an Active Trader Program with discounts, it's still less advantageous compared to top competitors such as Saxo, FOREX.com, and IG. Earning a 4-star rating, FxPro ranks #32 out of 62 brokers for commissions and fees according to ForexBrokers.com, indicating room for improvement in competing with lower-cost options.
For those prioritizing low-cost commissions and fees, Saxo emerges as a compelling choice thanks to its efficient pricing structure and broad appeal to high-volume traders. By contrast, FxPro, despite offering various account executions and platforms, does not match Saxo's competitive edge on pricing or overall value. However, its cTrader platform does provide a viable option for those who specifically seek variable spreads with commission-based pricing.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.1 | 1.51 |
| All-in Cost EUR/USD - Active | 0.9 | 1.27 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by online brokers Saxo and FxPro, Saxo clearly takes the spotlight with an impressive 70,000 tradeable symbols. In contrast, FxPro provides access to 2,249 symbols. In terms of forex trading, both brokers offer participation, but Saxo offers a significantly wider selection with 190 forex pairs compared to FxPro’s 70. Those looking to trade exchange-traded securities on U.S. exchanges will find more options with Saxo, as it allows purchases such as shares of Apple. While both brokers enable trading on international exchanges, Saxo again exceeds expectations with more comprehensive offerings.
For cryptocurrency investors, neither Saxo nor FxPro supports purchasing actual cryptocurrencies; however, they both provide the ability to trade cryptocurrency derivatives. Both brokers offer copy trading capabilities, making them suitable options for those interested in mirroring experienced traders. Saxo stands out with a 5-star rating for its range of investments and ranks #3 out of 62 brokers in this category, as assessed by ForexBrokers.com. FxPro, while still commendable, is rated 4 stars and ranked #28, demonstrating that Saxo provides a more extensive selection for diversified investment portfolios.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 70000 | 2249 |
| Forex Pairs (Total) | 190 | 70 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Saxo and FxPro both excel in offering diverse trading platforms and tools, making them popular choices for traders of various experience levels. Both brokers provide free virtual demo accounts, allowing users to explore the platforms risk-free before committing. While each broker offers its own proprietary trading platform and supports Windows-based desktop downloads, a significant difference lies in their support for MetaTrader platforms. FxPro supports both MetaTrader 4 and 5, which are popular among seasoned traders, whereas Saxo does not. Both brokers also ensure flexibility by offering web-based trading platforms, and they facilitate copy trading for those interested in mimicking experienced traders' moves.
When it comes to charting capabilities, FxPro provides a slight edge with 25 drawing tools compared to Saxo's 20, yet both allow users to trade directly from charts, simplifying the trading process. Saxo takes the lead in watch list customization with 60 columns available compared to FxPro's six, providing more detailed market monitoring. This level of detail, combined with a comprehensive platform suite, has earned Saxo a perfect five-star rating for its trading platforms and tools, and the top rank out of 62 brokers. Meanwhile, FxPro also offers strong platforms with a four-star rating and ranks 19th in the Trading Platforms and Tools category, showcasing its solid reputation in the trading community.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 53 |
| Charting - Drawing Tools (Total) | 20 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 60 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both Saxo and FxPro have you covered with iPhone and Android offerings. Users can receive stock and forex price alerts on each platform, while watchlist symbol syncing ensures seamless integration, allowing changes to be reflected across both the app and online account. With Saxo providing 64 technical studies and FxPro offering 65, traders have a wealth of tools at their disposal for crafting informed strategies. Both platforms also support drawing trendlines and viewing charts across different time frames, such as daily or weekly, with autosaving functionality that keeps your annotations intact.
For traders keen on tracking the market closely, Saxo and FxPro allow the creation of watchlists with real-time quotes. Despite their similarities, Saxo edges out slightly in overall ratings. Saxo boasts a perfect 5-star rating for its mobile trading apps and ranks #2 out of 62 brokers, as per ForexBrokers.com assessments. FxPro, meanwhile, is rated at 4.5 stars, finding its place at #15 in the same category. Whether you choose Saxo or FxPro, both platforms aim to deliver a feature-rich trading experience that caters to a range of investment needs.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 65 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both Saxo and FxPro provide daily market commentary and access to forex news from leading sources like Bloomberg and Reuters. However, their offerings differ in terms of technical analysis tools. Saxo features tools from Autochartist, while FxPro provides services from Trading Central. Both brokers offer sentiment-based trading tools and comprehensive economic calendars for tracking global news events, but neither includes resources from Acuity Trading or market research from TipRanks.
Saxo stands out with a top-notch rating of 5 stars for research, securing the number one spot among 62 brokers on ForexBrokers.com. In comparison, FxPro is rated 4 stars and ranks 27th. Saxo's higher ratings reflect its extensive and varied research resources, making it a preferred choice for traders seeking comprehensive market insights.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those new to online trading, Saxo and FxPro both provide a wealth of educational resources, but there are notable differences in their offerings. Both brokers exceed the minimum requirement of providing at least 10 pieces of educational content, such as articles, videos, and archived webinars focusing on forex or CFDs, making them supportive options for new investors. However, Saxo takes a step further by offering online educational webinars each month, a feature FxPro does not provide. Additionally, both platforms offer a searchable archive of recorded webinars, but Saxo offers a more comprehensive educational experience with advanced trading video content for experienced traders, a feature not offered by FxPro.
Saxo and FxPro each provide investor dictionaries containing over 50 investment terms, helping traders familiarize themselves with industry jargon. Still, it's evident that Saxo's educational support comes out on top, as demonstrated by its higher 5-star education rating compared to FxPro's 4-star rating. Furthermore, Saxo ranks 13th out of 62 brokers for education on ForexBrokers.com, while FxPro ranks 17th, indicating a broader and more in-depth educational offering for beginners and more advanced traders alike.
| Feature |
Saxo
|
FxPro
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that Saxo is better than FxPro. Saxo finished with an overall rank of #3, while FxPro finished with an overall rank of #21.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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FxPro
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 90 |
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Both Saxo and FxPro do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
When comparing the deposit and withdrawal options of online brokers Saxo and FxPro, Saxo offers Visa, Mastercard, and bank wires, but lacks ACH, SEPA, PayPal, and Skrill, while FxPro supports ACH, SEPA, PayPal, Skrill, Visa, Mastercard, and bank wires, providing users with a more versatile range of transaction methods.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Saxo | FxPro | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Saxo Review | FxPro Review |
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| Regulation | Saxo | FxPro | |
|---|---|---|---|
| Trust Score | 99 | 90 | |
| Year Founded | 1992 | 2006 | |
| Publicly Traded (Listed) | No | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Saxo | FxPro | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | FxPro | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Saxo | FxPro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 70000 | 2249 | |
| Forex Pairs (Total) | 190 | 70 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Saxo | FxPro | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.1 | 1.51 | |
| All-in Cost EUR/USD - Active | 0.9 | 1.27 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Saxo | FxPro | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | Saxo | FxPro | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Saxo | FxPro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 60 | 6 | |
| Charting - Indicators / Studies (Total) | 64 | 53 | |
| Charting - Drawing Tools (Total) | 20 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | FxPro | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 65 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Saxo | FxPro | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | FxPro | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Saxo | FxPro | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Saxo Review | FxPro Review |
| Overall | Saxo | FxPro | |
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| Trust Score | 99 | 90 | |
| Winner | check_circle | ||
| Review | Saxo Review | FxPro Review |
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